Ameriprise Financial Inc. Raises Holdings in Core & Main, Inc. (NYSE:CNM)

Ameriprise Financial Inc. grew its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,388 shares of the company's stock after buying an additional 21,702 shares during the quarter. Ameriprise Financial Inc. owned 0.12% of Core & Main worth $12,238,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. US Bancorp DE increased its position in Core & Main by 12.3% during the 4th quarter. US Bancorp DE now owns 1,795 shares of the company's stock valued at $91,000 after buying an additional 197 shares in the last quarter. Avior Wealth Management LLC increased its position in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after buying an additional 271 shares in the last quarter. Quadrant Capital Group LLC increased its position in Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after buying an additional 278 shares in the last quarter. CIBC Asset Management Inc increased its position in Core & Main by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock valued at $299,000 after buying an additional 287 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Core & Main by 0.6% during the 4th quarter. Arizona State Retirement System now owns 55,910 shares of the company's stock valued at $2,846,000 after buying an additional 360 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Core & Main

In related news, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares of the company's stock, valued at $770,282.64. The trade was a 57.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the sale, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at approximately $207,977.60. This represents a 91.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,045 shares of company stock valued at $3,683,698 over the last three months. 3.49% of the stock is owned by company insiders.

Core & Main Stock Performance

NYSE CNM opened at $54.14 on Monday. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $61.33. The company has a market capitalization of $10.71 billion, a P/E ratio of 25.42, a PEG ratio of 2.61 and a beta of 1.04. The business has a 50 day moving average price of $49.85 and a 200 day moving average price of $50.51. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company posted $0.34 EPS. Core & Main's quarterly revenue was up 17.9% compared to the same quarter last year. Sell-side analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CNM. Wells Fargo & Company upped their target price on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Royal Bank of Canada cut their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Robert W. Baird cut their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.55.

Core & Main Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.

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